Anand Mahindra, Chairman of the $16.9 billion Mahindra Group, received an honorary doctorate at the 53rd Convocation of IIT Bombay.
Mahindra was conferred with the Degree of Doctor of Science (Honoris Causa) for his extraordinary commitment in furthering the cause and growth of the automobile industry, and for his significant contribution to the social development of India.
"Everyone says that 'Jugaad' is India's biggest contribution to the world. What I want from all of you is to work towards moving from 'Jugaad' to 'Jhakaas'. This is about thinking differently and not just thinking cheap.
'Jhakaas' is about disruption and sustained disruption requires an educational culture where questioning is encouraged and failure is embraced," said Mahindra.
Mahindra added that one of the 'I's in IIT stands for imagination.
"This is an educational culture where your faculty has created an environment that encourages you to think and provides opportunities to take the creative leaps of faith. So, I urge you all to go out there and focus on this 'I'. This will lead us to not only 'Make in India' but also 'Imagine in India," Mahindra, added.
The Doctor of Science (Honoris Causa) is the highest honour bestowed by IIT Bombay. Kailash Satyarthi, Nobel Peace Prize Laureate, was the Chief Guest for the occasion and he delivered the convocation address to the gathering.